• Ad Age, Monday, January 28, 2008 11:45 AM

As the housing market continues to deteriorate with nearly 750,000 Americans in foreclosure, a new $40-million campaign for the National Association of Realtors includes claims that, on average, the value of a home nearly doubles every 10 years, and 60% of the average homeowner's wealth comes from home equity.

The campaign features two spots. In one, a woman who appears to be a real-estate agent walks through a well-appointed home declaring "opportunities have never been better." For those "on the fence" about buying a house, the NAR "wants you to know that a home isn't just a great place to raise a family; it's also the key to building long-term wealth," she says.

On the NAR Web site, an "equity estimator calculator" suggests a $20,000 home down payment turns into $124,600 in 10 years for a 623% return. Critics of the commercials think the association should give some thought to placing a warning in the ads similar to those for pharmaceuticals or investment companies, or a responsibility message similar to those from alcoholic-beverage companies.

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